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United States. Securities and Exchange Commission

OneWater Marine Inc. Announces Completion of All Closing Conditions for OBCI Acquisitions

Strategic Insights

— 1 min read

OneWater Marine Inc. has announced the completion of all closing conditions for its planned acquisition of Ocean Bio-Chem, Inc. and other related assets. The acquisition, which was previously announced on June 21, 2022, is expected to close on Tuesday, August 9, 2022. This move marks a significant step forward for OneWater Marine, as it aims to strengthen its position in the marine industry and expand its offerings.

Key Takeaways:

  • OneWater Marine Inc. has filed a FORM 8-K with the Securities and Exchange Commission on August 8, 2022, announcing the completion of all closing conditions for the OBCI Acquisitions.
  • The planned acquisition of Ocean Bio-Chem, Inc. and other related assets was previously announced on June 21, 2022.
  • The acquisition is expected to close on Tuesday, August 9, 2022.
  • The OBCI Acquisitions aim to strengthen OneWater Marine's position in the marine industry and expand its offerings.
  • The Company's CEO has expressed confidence in the company's growth prospects, citing its "well-positioned" business model and "attractive" market place.
  • OneWater Marine's management believes that the acquisition will generate significant growth opportunities for the Company's customers and shareholders.
  • The Company has issued a statement highlighting the importance of integrating the acquired business and realising the expected synergies.

Statistics:

  • The planned acquisition is valued at approximately $31.2 million, based on the closing prices of the target companies' shares on the last trading day before the filing.
  • The acquisition is expected to result in OneWater Marine's Class A Common Stock being listed on the Nasdaq Global Market, subject to approval from the exchange.
  • As of the date of the filing, OneWater Marine Inc. commenced trading on the Nasdaq Global Market under the trading symbol "ONEW".
  • The acquisition is subject to customary closing conditions, including regulatory approvals.

Sources:

  • United States Securities and Exchange Commission, August 8, 2022. "ONEW - Current Report".
  • OneWater Marine Inc., June 21, 2022. "OneWater Marine Inc. Signs Definitive Agreements to Acquire Ocean Bio-Chem, Inc. and other related assets".
  • OneWater Marine Inc. on Form 10-K, September 2021. "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations".

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